Checklist for documents to be obtained before starting Statutory Audit Performing a statutory audit involves a thorough examination of a company’s financial records and statements to ensure accuracy, compliance with relevant laws and regulations, accounting standards, and transparency in reporting. Documentation is a crucial aspect of the audit process, as it provides evidence of transactions, … Read more
What is Accounting Standard? The Institute of Chartered Accountants of India (ICAI) issues a set of guidelines known as Accounting Standards (AS) to establish uniformity and consistency in the preparation and presentation of financial statements by companies in India. These standards provide a framework for accounting policies, measurement, presentation, and disclosure of various financial transactions … Read more
Internal financial control (IFC) reporting as per section 143(3)(i) of the Companies Act, 2013 Section 143(3)(i) of the Companies Act, 2013, pertains to the statutory auditor’s responsibility to include a statement in their audit report regarding the adequacy and effectiveness of the company’s internal financial controls (IFC). The section reads as follows: “(3) The auditor’s … Read more
If you are looking for board resolution for closure of bank account then you are at the right place. Here, you will find the sample board resolution drafted as per the companies act, 2013. Board Resolution format for Bank Account Closure Download Board Resolution format for Closure of Bank account in India. You may use this … Read more